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Warren Buffett's Precision Castparts, acquired for $37bn in 2016, has seen its value rise by nearly $2bn, bringing it closer to break-even after a $10bn writedown in 2021. The aerospace parts maker's recovery aligns with the industry's rebound post-pandemic, as revenues surpassed pre-pandemic levels, reaching $10.4bn in 2024.
Super Micro Computer has appointed BDO as its new auditor and submitted a compliance plan to Nasdaq, resulting in a 23% surge in shares. The company is working to file its overdue 2024 year-end report after facing scrutiny over accounting practices and a DOJ probe. Despite recent challenges, Super Micro"s sales have more than doubled, driven by its partnership with Nvidia.
Super Micro's stock has plummeted 72% since its peak in March, following the resignation of its auditor, Ernst & Young, raising delisting risks from Nasdaq. The company, a key player in AI server solutions, faces scrutiny over financial reporting and potential accounting manipulation, with a deadline to regain compliance by mid-November. Despite significant revenue growth, Wall Street's confidence has waned, highlighting the volatility surrounding AI-related investments.
Deloitte & Touche LLP
Companies
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
buffett's precision castparts investment rebounds after pandemic struggles
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